Sean 'Diddy' Combs' Billionaire Status Wiped Out: How Rapper Has Lost $600Million Amid Sex Trafficking Outrage
Diddy takes $600m hit amid sex crime claims.
Oct. 30 2024, Published 8:00 a.m. ET
Sean "Diddy" Combs is seeing his wealth go down the pan along with his reputation with Forbes reporting he's had $600 million knocked off the value of his riches.
Just seven years ago he was the top earner on Forbes’ list of the 100 highest-paid celebrities — and was once ranked as a billionaire, RadarOnline.com can reveal.
Prosecutors argued Combs could attempt to interfere with the case through witness intimidation if released before his trial.
No. 2 on the list was Beyonce, with $105 million in earnings.
No. 2 on the list was Beyonce, with $105 million in earnings. Harry Potter author J.K. Rowling brought in $95 million. Rapper Drake and Portuguese soccer superstar Cristiano Ronaldo round out the top five.
The previous year's top earner, Taylor Swift, had dropped to No. 49. The singer brought in $44 million, down from $170 million.
The previous year's top earner, Taylor Swift, had dropped to No. 49.
According to Business Insider, his record label netted him over $130 million every year when it was at its peak, following five studio albums, two collaborative albums, one remix album and 72 singles.
His alcohol businesses made him over $90 million last year, according to Forbes, with his Ciroc partnership with Diageo alongside Revolt and DeLeón tequila bringing him in a huge chunk of change.
Sean 'Diddy' Combs' alcohol businesses made him over $90 million last year, according to 'Forbes,' with his Ciroc partnership with Diageo alongside Revolt and DeLeón tequila bringing him in a huge chunk of change.
In November 2022, P Diddy announced a $185 million deal to purchase various cannabis retail stores which would have made him the chairman and CEO, however, the deal was canceled after the allegations against him started to build.
Now Diddy's staggering net worth has seen a huge change amidst multiple dire allegations filed against the music mogul.
Now Sean 'Diddy' Combs' staggering net worth has seen a huge change amidst multiple dire allegations filed against the music mogul.
A report by Forbes editor Zack O’Malley Greenburg stated that the net worth of Combs, who is currently in federal custody awaiting trial, has dropped drastically.
However, the publication also noted that it has been dropping massively over the last five years, even before his arrest.
The music mogul is awaiting his trial date of May 5 2025 for racketeering conspiracy and sex trafficking.
Combs was a billionaire at one time, however, that status has diminished away after years of accusations against the rapper.
The 54-year-old rapper’s net worth had dropped by more than half of what he once owned.
Combs' lawyers pushed back and claimed he's been unconstitutionally jailed and silenced since his arrest.
According to that breakdown of his net worth, it was down to $400 million. In 2019, Combs had an estimated net worth of $740 million.
Among his decreasing net worth were things that had nothing to do with the allegations.
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Big Homie recalled an incident where Combs' allegedly grabbed a 10-year-old by the neck and asked if he wanted to 'walk with god' or 'be a roach'.
The hip-hop icon faces allegations of sexual assault, coercion, and abuse.
However, Combs pleaded not guilty to all the charges against him and plans to fight all the allegations.
Sean 'Diddy' Combs faces allegations of sexual assault, coercion, and abuse.
His bail plea has been denied thrice and he will face a trial set for May 5, 2025.
Last month the mogul was told he would remain in federal custody after a judge denied his appeal to be granted, one day after he pleaded not guilty to three criminal counts including sex trafficking and racketeering following a series of sexual assault allegations and a federal investigation.
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